Goldman Sachs partners with BNY Mellon to launch a tokenized money market fund, leading a new trend in digital assets.

[Chain News] On July 23, it was reported that Goldman Sachs, in collaboration with BNY Mellon, has enabled institutional investors to purchase tokenized money market funds. BNY clients can invest in money market funds through Goldman Sachs' blockchain platform, with ownership recorded in the form of digital tokens. The project has attracted participation from large fund companies such as BlackRock, Fidelity Investments, and Federated Hermes. The two Wall Street giants believe that the tokenization of money market funds will be the next significant breakthrough in the digital asset space. Unlike stablecoins, tokenized money market funds provide returns to holders, making them ideal cash management tools for hedge funds, pensions, and corporations. Executives from Goldman Sachs and BNY stated that this move will lay the foundation for the seamless circulation of money market funds in a real-time, digital ecosystem.